EUR/GBP may fall 11 - 16 pips

Our pivot point stands at 0.8519.

Our preference

The downside prevails as long as 0.8519 is resistance.

Alternative scenario

Above 0.8519, look for 0.8527 and 0.8532.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.8516 and 0.8514).

Supports and resistances

0.8532 **

0.8527 *

0.8519 **

0.8516

0.8512 last

0.8501

0.8496 **

0.8491 *

0.8486 **

Number of asterisks represents the strength of support and resistance levels.